J.P. Morgan Names Lake as CFO

J.P. Morgan Chase & Co. named finance executive Marianne Lake to succeed Douglas Braunstein as chief financial officer of the largest U.S. bank.

The appointment, effective early next year, makes Ms. Lake one of the most powerful women on Wall Street. The move is the latest management shuffle for the New York company, which is recovering from a massive trading loss. J.P. Morgan said that Mr. Braunstein will become a vice chairman...